TO AMEND MINIMUM CAPITAL REQUIRED FOR ESTABLISHMENT AND MAINTENANCE OF AN AIRLINE
On November 15, 2019, the Government issues the Decree No. 89/2019/ND-CP amending and supplementing a number of Articles of the Government’s Decree No. 92/2016/ND-CP dated July 01, 2016 prescribing the conditional business lines in civil aviation and the Government’s Decree No. 30/2013/ND-CP dated April 08, 2013 on air transportation and general air operation.
Accordingly, the minimum capital required for establishment and maintenance of an airline with regard to an airline operating up to 10 airplanes, shall be VND 300 billion; With regard to an airline operating from 11 to 30 airplanes, shall be VND 600 billion; With regard to an airline operating up to 30 airplanes shall be VND 700 billion.
Within 20 working days after receiving a valid set of dossiers, the Civil Aviation Authority of Vietnam shall submit a written assessment report to the Ministry of Transport instead of 30 days as before. Besides this Decree also eliminate the regulation that the enterprises must upload content of the permission on to public press for consecutive 03 issues as before.
This Decree takes effect on January 01, 2020.
